PSM to Petronas: Stop wasting money on greenwashing, just cut your emissions!

PETRONAS’ pledge of achieving net zero carbon by 2050 is nothing more than a “greenwashing public relation stunt.”

“If Petronas is serious about going green, then it should be curbing its venting, flaring and preventable fugitive emission by 2023 globally,” Parti Sosialis Malaysia (PSM) central committee member Sharan Raj told FocusM.

In November last year, Petronas announced its Net Zero Carbon Emissions by 2050 Programme (NZSE), aimed at moving towards a holistic approach to sustainability that balances environment, social and governance (ESG) considerations.

In tandem with the policy, Petronas Dagangan Bhd (PBD) recently announced that it has diversified its product portfolio in 3Q FY2020 to include the marketing of liquified natural gas (LNG) as a cleaner fuel option via the Petronas Group’s virtual pipeline system (VPS).

Sharan Raj

“PDB is now the first in Malaysia to supply LNG to off-grid customers in Peninsula Malaysia.

“Additionally, it is also marketing LNG to the marine industry via Petronas’ first LNG Bunkering Vessel (LBV) – MV Avenir Advantage – which allows for ship-to-ship transfer, the first in Southeast Asia to offer such solution,” its managing director-cum-CEO Azrul Osman Rani was reported saying.

However, Sharan, who is also PSM’s Environmental & Climate Crisis Bureau coordinator, was unimpressed by Petronas’ programme.

According to Malaysia’s 3rd Biennal Update Report to the United Nations Framework Convention on Climate Change (UNFCCC), the PSM leader pointed out that Malaysia’s oil and gas (O&G) industry was responsible for 8.3% of the national greenhouse emissions.

The problem, he added, comes from the national oil corporation’s venting, flaring and fugitive emissions.

“The fact is, Petronas possess the technical, engineering, regulatory and financial capability to easily end the 25.3 million metric tonnes (MMT) of carbon dioxide equivalent (CO2e) per annum emission.

“However, the company is wasting petroleum wealth on a greenwashing stunt to avoid being held responsible for a climate crisis,” Sharan stated. – Feb 23, 2021.

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